Video streaming is a rapidly growing industry, with more and more consumers choosing to cut the cord and stream their favorite shows and movies online. Launching a branded smart TV app in 2023 can provide numerous benefits for a video streaming business, including increased brand recognition, improved user experience, and direct access to a large and growing audience.
A smart TV app allows your customers to easily access your content on their smart TV, without the need for additional devices or complicated setup. This not only improves the user experience, but also strengthens your brand by providing a seamless and integrated solution for streaming video content.
Additionally, smart TV apps are projected to see a surge in popularity in the coming years, making now an ideal time to launch and capture a share of this growing market. With your own branded smart TV app, you can increase customer engagement, drive growth, and position your video streaming business for success in the years ahead. And in this blog we will guide you through why you should launch your own branded smart TV app in 2023 and how to get started.
The Global Smart TV Market & Ecosystem: Growth Scope & Opportunities
The global smart TV market is a rapidly growing industry, driven by the increasing demand for connected devices and the rise of streaming services. In recent years, smart TVs have become more popular as consumers seek a seamless and integrated solution for streaming their favorite content. According to a recent market report, the global smart TV industry is on a rapid growth trajectory and is expected to generate over $450 billion in revenue by 2030.
As a result, smart TV ecosystems have emerged as key players in the market, providing users with a unified platform for accessing a wide range of content. Roku, Samsung Tizen, Apple TV, Android TV, and LG WebOS are some of the top smart TV ecosystems in the market.
- Roku, the pioneer in the smart TV industry, offers a comprehensive platform with access to over 100,000 movies and TV shows, including popular streaming services such as Netflix, Hulu, and Amazon Prime Video. The company’s user-friendly interface and easy setup have made it a popular choice among consumers, and its growing selection of content and services continue to drive its success.
- Samsung Tizen, on the other hand, is a proprietary operating system used by Samsung for its smart TVs. It provides a user-friendly interface and a wide range of content including popular streaming apps and games. Tizen’s integration with Samsung’s ecosystem, including its smartphones and other devices, makes it an attractive option for consumers looking for a seamless and integrated experience.
- LG WebOS, developed by LG Electronics, is another popular smart TV ecosystem in the market. It offers a simple and intuitive interface that makes it easy to access a wide range of streaming content. With features such as Magic Remote and Magic Link, LG WebOS provides a convenient and streamlined experience for users.
The other major players include Apple TV, VEWD TV, and Fire TV, to name a few. The growth of the smart TV market is driven by several factors, including the increasing demand for streaming content, the rise of connected devices, and the growing trend towards smart homes. As consumers continue to demand a more seamless and integrated experience, smart TV ecosystems are poised to see significant growth in the coming years.
Opportunities for growth in the smart TV market include the expansion of content and services, the development of new technologies such as voice and gesture control, and the integration of smart TVs with other connected devices. As the market continues to grow, companies can also explore opportunities for revenue generation through advertising, subscriptions, and other business models.
Here are some of the key growth drivers and market insights:
- Growth in Roku Users: By 2023, the number of active Roku user accounts is projected to surpass 63 million worldwide.
- Expanding Android TV Industry: The global Android TV industry is expected to experience a compound annual growth rate (CAGR) of over 20% through 2025.
- Dominant Tizen Platform: Samsung’s Tizen platform currently holds the largest market share, with over 20% of annual smart TV sales globally. It is projected to remain a key player in the streaming industry, with over 190 million users in more than 190 countries.
- VEWD-Enabled Devices: The VEWD TV ecosystem, with over 450 million VEWD-enabled devices, is forecasted to distribute its solutions to nearly 30 million linked devices on an annual basis.
These statistics highlight the significant growth potential of the global smart TV ecosystem, and the increasing popularity of key players. As the demand for streaming content continues to grow, smart TV ecosystems will play a critical role in delivering a seamless streaming experience to the viewers.
Also read: How to scale your smart TV app business in 2023?
Building Your Own Branded Smart TV App: Leveraging the Unlimited Potential
There are innumerable reasons to build your own branded smart TV app, such as –
1. Targeting a Wide Range of Ecosystems
Video streaming platforms that launch their own branded smart TV channel or app can reach a wider range of ecosystems, expanding their audience base and improving the distribution of their content.
Smart TVs have become increasingly popular in recent years and provide an opportunity for video streaming platforms to reach users who prefer to watch content on their smart televisions, as opposed to just their computers or mobile devices.
By having a dedicated smart TV app, video streaming platforms can ensure that their content is easily accessible and provides a seamless viewing experience for users. For example, Netflix launched its own smart TV app that allows users to easily browse and watch their content on their smart televisions, which in turn has helped them tap on a larger connected TV ecosystem for higher profitability.
2. Expanding Audience Base
By launching a branded smart TV channel or app, video streaming platforms can expand their audience base, reaching new users who may not have been familiar with their content before. This can help to increase brand awareness and attract new users to their services.
By having a presence on smart TVs, video streaming platforms can also cross-promote their other products and solutions, such as mobile apps or subscription-based solutions, to a wider audience. For example, Disney+ launched its own smart TV app, providing users with easy access to their content and allowing them to cross-promote other offerings, such as Marvel and Star Wars content.
3. Improving Online Video Content Distribution
A branded smart TV channel or app can also help video streaming platforms to improve the distribution of their online video content. With a dedicated app, video streaming platforms can ensure that their content is easily accessible and navigable for users.
This can help reduce friction and improve the overall user experience. Additionally, having a smart TV app provides video streaming platforms with more control over the distribution of their content, allowing them to ensure that it is being displayed in the best possible way. For example, YouTube TV has launched its own smart TV app, providing users with a streamlined and intuitive way to access and watch their content on their televisions.
4. Scaling Up Your Streaming Business
By launching a branded smart TV channel or app, video streaming platforms can scale their business, reaching a larger audience and driving growth. With a presence on smart TVs, video streaming platforms can increase their revenue while positioning their streaming platform better in the crowded market.
Additionally, having a smart TV app provides video streaming platforms with more data and insights into their users, allowing them to make informed decisions about their content and offerings. For example, Amazon Prime Video launched its own smart TV app, providing users with easy access to their content and allowing the company to gather more data about its users, helping to drive growth and improve their overall business performance.
5. Enhancing User Experience
A branded smart TV channel or app can also enhance the user experience for video streaming platform users. By providing a dedicated app, video streaming platforms can tailor their offerings and provide users with an optimized experience specifically for smart TV viewing.
This can include features such as customized recommendations, seamless navigation, and easy access to a wide range of content. Additionally, having a smart TV app provides video streaming platforms with the ability to collect user feedback and make improvements to their offerings based on that feedback. For example, Hulu launched its own smart TV app, providing users with a customized and optimized experience, allowing them to easily access and watch their content on their televisions.
Key Points to Consider While Building a Smart TV App
With so many smart TV apps on the market, it’s important to make sure that your app stands out from the crowd. Here are some key points to consider when building a smart TV app:
1. Making It Smart TVs User-Centric
One of the most important considerations when building a smart TV app is making it user-centric. This means designing the app with the user experience in mind, and making sure that it is easy to use and navigate. The user interface should be intuitive and well-designed, with clear navigation and clear, concise instructions.
It is important to understand the needs and preferences of the target audience. This can be done through market research, user testing, and other methods. Understanding what users want and need from a smart TV app will help to ensure that the app is designed to meet their needs, and will also help ensure that it is well-received by the target audience.
2. Smart Recommendations
Another key consideration when building a smart TV app is the inclusion of smart recommendations. This means that the app should be able to recommend content based on the user’s viewing habits and preferences.
For example, if a user frequently watches action movies, the app should be able to recommend other action movies that they might enjoy. Smart recommendations can be created using algorithms that analyze the user’s viewing habits, and make recommendations based on this data. These algorithms should be refined and updated over time to ensure that the recommendations are accurate and relevant.
To make smart recommendations a success in your smart TV app, consider the following points:
- Data Collection: The app must collect data on user preferences and viewing habits to provide accurate recommendations. Ensure that you have the necessary permissions and comply with data protection laws when collecting this information.
- Machine Learning Algorithms: Implement machine learning algorithms to analyze the collected data and generate recommendations. The algorithms must be able to learn and adapt to user preferences over time.
- Personalization: Offer personalized recommendations based on individual user preferences. This includes recommendations for movies, TV shows, and other video content.
- Relevance: Ensure that the recommendations are relevant to the user. This can be achieved by considering factors such as genre, actor preferences, and the user’s viewing history.
- User Feedback: Incorporate a feedback mechanism to allow users to rate recommended content. This will help improve the accuracy of the recommendations over time.
3. Voice Search
Another important feature to consider when building a smart TV app is voice search. Voice search allows users to find content quickly and easily using their voice, rather than having to navigate through menus and search results.
This makes it easier for users to find what they are looking for, and can also make the overall experience of using the app more enjoyable. To implement voice search, the app should be integrated with a voice recognition platform, such as Google Assistant or Amazon Alexa. This will enable the smart TV app to understand and respond to voice commands, making it easier for users to find what they are looking for.
4. Remote Control Compatibility
Another key point to consider is remote control compatibility. A large number of smart TV users prefer using their remote control to navigate through their TV. As such, it is important to ensure that your app is compatible with the most common remote controls in the market. This will enhance the user experience and make it easy for users to control the app.
To achieve this, make sure to use the recommended programming languages and tools that are supported by the remote control manufacturers. Also, test the app thoroughly with different remote controls to ensure that all buttons and functions work as expected.
Launch and Grow Your Own Branded Smart TV App With Muvi One
Undoubtedly, launching your own branded smart TV app is a lucrative idea worth exploring – no matter whether you are already running a video streaming platform or planning to start one. And the most important step to take is – choosing a quality smart TV platform provider that can accommodate all the key requirements and help you start and grow your own branded smart TV app easily.
Wondering where to start? Well, we got good news for you, because, with Muvi One, you can build and launch your own branded smart TV app in a jiffy even without writing a single line of code.
Muvi One supports more than 13 environments including Android TV, Apple TV, Fire TV, Samsung Tizen, and Roku, to name a few, and offers a bunch of market-driven solutions like –
- Fast Native Smart TV App Creation
- In-app Purchase and Subscription
- Easy Device Restrictions Set Up and Management
- Simple On-demand and Live Streaming Content Delivery
- Easy Watchlist and Favorites Implementation
To name a few.
Take a 14-day free trial today to get started (no credit card required)!